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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Back in the 1960s, with what was Sam more concerned, rather than quality?
(a) Keeping large quantities of products in the store.
(b) Keeping the prices lower than other company's prices for future success.
(c) Good advertising.
(d) Keeping the customers returning.

2. Sam credits the success of the business with what relationship?
(a) The one that the managers have with their associates.
(b) The one Sam has with his father-in-law.
(c) The one he has with his wife.
(d) The one he has with his employees.

3. Don Whitaker comes to the Wal-Mart organization from TG&Y. He is a hard-working and smart man who establishes a great philosophy for the company. What is this philosophy?
(a) Let's be out front. Let's do it right. Let's get it done now and get on with it.
(b) Let's be quick and quiet.
(c) Let's be number one. Let's be honest and hard-working.
(d) Let's do it now and do it right.

4. Sam believes that he was over-blessed with the traits of ____________.
(a) Pride and jealousy.
(b) Love and kindness.
(c) Understanding and empathy.
(d) Ambition and drive.

5. Although Sam considers himself a fairly conservative guy, he is a _________ in the world of business.
(a) Liberal.
(b) Conservative.
(c) Maverick.
(d) Oddity.

6. How do the children have just as high a stake in the family business as their parents?
(a) He gives each child money to spend or save.
(b) He makes every member of the family a partner in the family business.
(c) If he cannot earn enough money, neither do they.
(d) He threatens each child.

7. At the time, nobody wants to invest in the idea with Bud putting only 3 percent into it and another manager from Texas putting in 2 percent. Other than that, Sam had to come up with what percent of the financing on his own?
(a) 95.
(b) 90.
(c) 85.
(d) 98.

8. Sam talks about the impact of the business on _________.
(a) The world.
(b) His community.
(c) The United States.
(d) His family.

9. Why does Sam buy a little bank in Bentonville?
(a) In order to lend money to himself.
(b) In order to earn money for Wal-Mart.
(c) He wants to control his money.
(d) In order to better understand the lending process and banking industry overall.

10. Sam's father, Thomas Gibson Walton, is a very hard worker who was later remembered for _____________.
(a) His honesty and integrity.
(b) His quiet demeanor.
(c) His loving personality.
(d) His wealth.

11. This book is Sam's attempt to __________________.
(a) Earn extra money for his family.
(b) Make himself famous.
(c) Build up Wal-Mart's popularity.
(d) Clear the misconceptions about him, his business, and most importantly, his views on how to build a successful company.

12. ____________ is one store that expanded and had a distribution center that offered a superior product merchandise that Wal-Mart could offer their customers.
(a) Kmart.
(b) Meijer.
(c) Target.
(d) Giant Eagle.

13. Although there have been a number of changes in the Wal-Mart industry over the years, the Walton family still collectively owns __________ of their own business, which is rare for a major corporation.
(a) 68 percent.
(b) 38 percent.
(c) 48 percent.
(d) 58 percent.

14. What is the first thing Sam does?
(a) He moves into the town.
(b) He establishes a warehouse.
(c) He makes friends with those who run the town.
(d) He sends his sons to investigate the town.

15. Wal-Mart starts building stores quickly by establishing ___________.
(a) A community.
(b) Deals with community leaders.
(c) A friendship with the members of the towns.
(d) A cookie-cutter strategy.

Short Answer Questions

1. Now Wal-Mart has a profit-sharing policy for their employees that is currently ___________ at the time of publication.

2. Sam and his brother Bud go into business together and purchase outright ______________.

3. He thinks many of these failed stores would still be open if they had remembered to ___________.

4. What does Sam do after he establishes a Wal-Mart on the boundaries of big cities?

5. When Sam did not like the attention given to him and his family by the press, he put a lid on the personal information released to the public. What happened because of this reason according to Sam?

(see the answer keys)

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